NEW YORK (
(MS - Get Report)
was the winner among the largest U.S. financial names on Friday, with shares rising over 2% to close at $23.94.
The broad market rally continued, with slight increases for the
Dow Jones Industrial Average
S&P 500 Index
, while the
KBW Bank Index
was up slightly to close at 58.53, with all but five of the 24 index components ended Friday's session with gains.
With a very strong U.S. dollar, the spot price for gold for June Delivery at the COMEX division of the CME fell by $32, or 2.2%, settling at $1,436.60 an ounce.
Gold declined below a key support level
, according to Phil Streible, senior commodities broker at RJO Futures.
The dollar ended the week above a key level of 101 versus the Japanese yen, which appeared to be bullish for stock markets, as bond yields rose worldwide on Friday.
Shares of Morgan Stanley have returned 26% this year, following a 28% return during 2012. The shares trade for 0.9 times their reported March 31 tangible book value of $27.39, and for 9.5 times the consensus 2014 earnings estimate of $2.53 a share, among analysts polled by
. The consensus 2013 EPS estimate is $2.06.
for details on the company's first-quarter results.
Interested in more on Morgan Stanley? See TheStreet Ratings' report card for this stock.
-- Written by Philip van Doorn in Jupiter, Fla.